[2017-12-05] Israeli Regulator: We Need to Welcome Cryptocurrency to...

[Terraformer]

Israeli Regulator: We Need to Welcome Cryptocurrency to Develop International ICO Hub

One of the toughest financial regulators in Israel has made some surprisingly positive comments today regarding the acceptance of ICO crowdfunding and cryptocurrency. The outgoing chairman of the Israel Securities Authority (ISA) talked about a need to foster the creation of an international financial center based on ICOs.

Speaking for the last time as the ISA head before the Israeli corporations conference, Prof. Shmuel Hauser discussed the main challenges that the regulatory body still faces. Regarding ICOs he said:

“We will have to bring order to the market. Some countries decided to examine digital tokens on a case by case basis. A small number decided to ban them. We have decided to find out, with a team headed by the chief economist and the head of the corporations division, under which terms is it a security? Coin? Or some hybrid I call a security-coin?

“The team is meant to file its report by the end of December. We will have to define for ourselves and the market what is this beast. Among other things, we will need to consider expanding the supervision on security-coin and define a proper regulatory framework, different from the one we know for IPOs.

“I believe that the topic of digital currencies and their offerings must receive a favorable regulatory response, maybe even daring somewhat, to give a chance for the option to develop an international financial center for security-coin from the type of ICOs.”

Still, the professor added that the regulatory framework will need to show a certain degree of paternalism to make sure ICOs won’t develop in directions he considers to be negative.

Link >>> https://news.bitcoin.com/israeli-regulator-need-welcome-cryptocurrency-develop-international-ico-hub/

[Tesorex]

Israel is not a real country, they kill people so they can live on their lands, cryptocurrencies will become their demise in the international market.

[iamTom123]

Israel is known as one of the epicenter for entrepreneurial activities and there are now many outstanding businesspeople based in Israel who are doing good business on a global scale. I have been an ardent supporter of Israel in the quest for its legitimacy geographically, politically and in the arena of business. Prof. Shmuel Hauser must have seen something good in cryptocurrency and the currently hot ICO platform for the good of the country. Indeed, the best way to control ICO is to regulate it so that we can all weed out scammers and people who are just here for the money. There should be scrutiny before anyone can be allowed to introduce crowdfunding via the ICO way.

Rather than issue a ban which is kinda myopic response, a good country should instead craft regulatory framework which everybody should strictly follow to make the field fair and at the same time protect the interests of the many buyers or investors. having been a victim of some failed and scammy ICO, I am personally welcoming regulations on ICO and cryptocurrency but the aim of this decision should not be to kill innovations but instead to promote them properly and to encourage all legitimate proponents to come and be a part of the movement so we can squeeze out scammers.

I am sure that Israel can be the coming hub for cryptocurrency and ICO in this side of the Middle East!